Strategy is a must
There are lots of sharks waiting to take your money. Don’t just easily give into the craze. Try to step back first from the hype and observe from that perspective.
Manage the risk that it can inflict you
By knowing your limits on how much thou shall invest. As the saying goes “ Don’t put all your eggs in one basket”.
Don’t be tempted to trade with more money than you can afford to lose.
Patience is the key
Cryptocurrency dramatically rise up or fall so you have to be in it for a long term to familiarize yourself unless you can read the graphs
Cryptocurrencies aren’t going to disappear like a bubble so, leaving your money in the market for months or years at a time could offer you the best rewards. You may not know and for you to , have patience
Trading Bots
They can be useful in some time but they can also be scams in disguise. Beware. Let your judging skill guide you. BUT don;t judge right away of course you have to do your research 😉
Buying when price is low
Not so pricey doesn’t always represent bargains.It has reasons.
Watch out for cryptos that has falling rates
Scams
- Cloud Multiplier scams are fraudster that contact its prey via email or text with enticing “investment opportunity”. They would say that the investor will get double of the amount they put in if the investor would send their cryptocurrency to a specific digital wallet.
- Spoofing are the ones who can easily influence the inflation or depletion of the prices of an unknown cryptocurrency. They create fake buy or sell orders.
- Malicious wallet software , experts says stick to the known names when it comes to crypto wallets like Ledger,Trezor,Metamask or Exodus
- Fake Coins, when in you invest in a wrong one, bad guys can actually steal your identity and your money. How do they do it ? through phishing it is where they would persuade you to click links and when you do it would install spyware on your computer. Spyware as in SPY.
Easy Money ?
Uh-uh.
There’s nothing easy about making money through trading any kind of financial asset, whether stocks and shares, commodities like silver and gold, or cryptocurrency.
If there’s someone who will tell you that this is an easy money, Don’t fall for it !
